Economic news

The world economy is currently deep in recession as economic disruptions brought by novel coronavirus reached a larger scale, according to economic analysts. The fast-paced contagion of the virus dragged financial markets down even with the implementation of stimulus by central banks across European, American, Asian, and Australian zone. The stimulus was proven to be […]

Peru’s central bank decided to reduce 1.25% interest rate on Thursday from the initial 2.25%. Such scheme was aimed at relieving Peru’s economy from the drag brought by the novel coronavirus contagion. The said reduction immediately followed after reports disclosed the very first death from the coronavirus. Statistics continued to bloat with additional 89 cases […]

U.S. crude oil prices climbed on Friday, stretching its gains after the 24% rise on Thursday after President Donald Trump said that he might step in the price war between Russia and Saudi Arabia. U.S. crude and global benchmark Brent crashed 40% in the last two weeks since the production cut agreed by the OPEC+ […]

The dollar neared its biggest gain in a week since the 2008 global financial crisis, even with a weakened rally, as the pandemic drove investors to cash and damaged the world’s financial plumbing. The dollar hiked 3.7% against a basket of currencies as investors sold stocks, commodities, bonds, and gold in exchange for cash. The […]

On Thursday, an emergency legislation had been introduced by U.S. Senate Majority Leader Mitch McConnell. This aims at stemming economic fallout created by the coronavirus pandemic. Both Republicans and Democrats agreed to meet today to reach an agreement. The financial package includes direct financial help for Americans, small businesses relief, and support for both healthcare […]

On Friday, the Central Bank of Australia purchased A$5 billion ($2.87 billion) worth of local government bonds. This came in its first round of unlimited quantitative easing program that aims at softening the blow of the coronavirus outbreak in the Australian economy. The Reserve Bank of Australia’s (RBA) operation attempts at cuttting funding costs for […]

Gold fell off its key $1,600 gain on Thursday after investors had sold off their positions in the precious metal in a panicked rush to save themselves from losses on Wall Street.   Gold Futures in New York’s COMEX fell by 3.2% ($52.10) at $1,589.30 an ounce. In a session, intraday prices fell by a […]

The Asian shares market saw its way to recovery on Friday amid Wall Street gains as well as a record rebound in oil prices. However, with investors in a panic Dollars stampede, many speculate that the crisis has not yet come to an end. MSCI’s broadest index of Asia Pacific shares outside Japan rallied by […]

Japanese benchmark index Nikkei placed flat and erased previous earnings on Thursday. Such inactivity followed as the European Central Bank stimulus had only relieved investors’ anxiety for a while over the economic slowdown brought by the virus contagion. The Nikkei dropped 0.7% to 16, 602.28 at its midday session. The recent percentage placed neutral from […]

Bond prices reached new depths on Thursday as wary investors disposed large volume of government bonds in virus-inflicted market. The sharp decline prompted central banks to heighten support for debt. Australian 10-year bond surpassed 50 basis points to 1.647% despite the initial scheme of Reserve Bank of Australia to reduce interest rates and implement monetary […]